Should I cancel my extended warranty? *SCAM*?

yasavguy · 08-02-2019, 01:08 PM

So I've purchased my M4 only a few days ago with an extended warranty from EFG (MAP). However, after thoroughly researching them online, I was totally stunned - there were hundreds of complaints from owners that said they were denied coverage in just about any scenario. Apparently, the company is doing everything possible to deny a claim and only approves a small % of repairs; and their contract is full of fine print.

Anyone had experience with EFG/MAP?

White340 · 08-02-2019, 01:35 PM

You already have your answer. Get mechanical breakdown from Geico If you bought new.

yasavguy · 08-02-2019, 01:55 PM

No, I bought my M4 used with 40k miles.

Should I even bother with extended warranty? Or these M4s rarely break down? For me it's just a daily driver in a 100% stock form, no mods.

White340 · 08-02-2019, 02:23 PM

Well things do break so you have to do your research to find common oproblems and see if you are concerned about them. You'll have people that go 100k without problems and others that have a few hiccups along the way. Anyway it sounds like the warranty company you bought yours from is shady. Look for others and see if you can find a suitable replacement if you want to have the piece of mind of an extended warranty

yasavguy · 08-02-2019, 04:25 PM

Has anyone had any experience with EFG/MAP? I'd like to hear from somebody before I pull the trigger and cancel the thing.

BluM4 · 08-02-2019, 06:23 PM

Never heard of EFG/MAP but I just bought the extended warranty from EasyCare. Read a lot of good reviews from the P-car forum.

///M/// · 08-19-2019, 07:43 PM

Quote:

Originally Posted by BluM4

Never heard of EFG/MAP but I just bought the extended warranty from EasyCare. Read a lot of good reviews from the P-car forum.

Did you consider fidelity as well? Am trying to choose between easycare and fidelity. For my car year and miles fidelity is working out Much cheaper.

NickyC · 08-21-2019, 11:14 PM

I don't know OP, this is the very warranty I purchased for my M4 back in February. I got their top of the line plan through February 2023 for about $4k. I'm very good friends with a number of people at my local BMW dealer, and ALL of them told me to go with these guys even over the extended warranty BMW offers. I was all ready to plop down $7k for the BMW warranty for only 3 three years, and they emphatically told me not to do it. Said they've sold their plans (EFG) for years, and have never had a single claim denied by the company. Everything from transmissions, to engines, to simple gaskets have been covered apparently. The cool thing was too, by buying the warranty at the dealer I frequent they waive the deductible for each repair.

Now, with that being said, it's possible I could have been absolutely taken to the cleaners and been made a sucker. I haven't had a claim to file yet, so we'll see what happens if something does eventually go wrong with the car. Honestly though, I'd be shocked if the guys at the dealership fed me some bullshit. I've literally know them for a couple decades now, so if I can't imagine they'd throw that type of patronage out the window for a couple hundred bucks (likely their take by selling the policy).

I wouldn't worry about it, everything you read on the internet is the worst case scenario. Keep in mind a lot of these people complaining might be competitors, or your typical automotive moron who does zero maintenance. They might also expect the policy to cover batteries or brake rotors/etc., and get enraged because they didn't read what the policy won't cover.

G35POPPEDMYCHERRY · 08-21-2019, 11:52 PM

its def cheaper to self insure this platform.

yasavguy · 08-23-2019, 01:23 AM

Quote:

Originally Posted by NickyC

I don't know OP, this is the very warranty I purchased for my M4 back in February. I got their top of the line plan through February 2023 for about $4k. I'm very good friends with a number of people at my local BMW dealer, and ALL of them told me to go with these guys even over the extended warranty BMW offers. I was all ready to plop down $7k for the BMW warranty for only 3 three years, and they emphatically told me not to do it. Said they've sold their plans (EFG) for years, and have never had a single claim denied by the company. Everything from transmissions, to engines, to simple gaskets have been covered apparently. The cool thing was too, by buying the warranty at the dealer I frequent they waive the deductible for each repair.

Now, with that being said, it's possible I could have been absolutely taken to the cleaners and been made a sucker. I haven't had a claim to file yet, so we'll see what happens if something does eventually go wrong with the car. Honestly though, I'd be shocked if the guys at the dealership fed me some bullshit. I've literally know them for a couple decades now, so if I can't imagine they'd throw that type of patronage out the window for a couple hundred bucks (likely their take by selling the policy).

I wouldn't worry about it, everything you read on the internet is the worst case scenario. Keep in mind a lot of these people complaining might be competitors, or your typical automotive moron who does zero maintenance. They might also expect the policy to cover batteries or brake rotors/etc., and get enraged because they didn't read what the policy won't cover.

That's exactly what they told me, as well. I did buy it at first but then backed out.

The staggering amount of reviews online point to the scam. EFG was sued by Attorney General over their deceptive practices. In addition, my usual mechanic said that dealerships make huge commissions of up to 50% per sale that they make. All that was enough for me to back down.

Update us, maybe I was wrong but I don't regret it. I'll fix out of pocket if anything goes wrong at my friend's shop.

NickyC · 08-23-2019, 09:16 AM

Quote:

Originally Posted by yasavguy

That's exactly what they told me, as well. I did buy it at first but then backed out.

The staggering amount of reviews online point to the scam. EFG was sued by Attorney General over their deceptive practices. In addition, my usual mechanic said that dealerships make huge commissions of up to 50% per sale that they make. All that was enough for me to back down.

Update us, maybe I was wrong but I don't regret it. I'll fix out of pocket if anything goes wrong at my friend's shop.

I don't blame you at all, I'm certainly hoping nothing goes wrong with my car so I won't need to find out. Best of luck with your car, and I'll certainly update this thread if I ever need to use the warranty.

Here's a good thread from somebody with real world experience on the warranty: https://f10.m5post.com/forums/showthread.php?t=1595875

08-02-2019, 01:08 PM	#1
yasavguy Private First Class 40 Rep 111 Posts Drives: '17 BMW X5M Join Date: Jun 2019 Location: Bellevue, WA iTrader: (0)	*Should I cancel my extended warranty? SCAM?* So I've purchased my M4 only a few days ago with an extended warranty from EFG (MAP). However, after thoroughly researching them online, I was totally stunned - there were hundreds of complaints from owners that said they were denied coverage in just about any scenario. Apparently, the company is doing everything possible to deny a claim and only approves a small % of repairs; and their contract is full of fine print. Anyone had experience with EFG/MAP?
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08-02-2019, 01:35 PM	#2
White340 Lieutenant Colonel 1392 Rep 1,985 Posts Drives: 2018 M3 Comp / 2022 X5 45e Join Date: Dec 2015 Location: NYC iTrader: (3)	You already have your answer. Get mechanical breakdown from Geico If you bought new. __________________ 2022 X5 45e : AW/Tartufo 2018 M3 Competition : AW/SO 2016 340i xDrive : AW/CR (sold)
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08-02-2019, 01:55 PM	#3
yasavguy Private First Class 40 Rep 111 Posts Drives: '17 BMW X5M Join Date: Jun 2019 Location: Bellevue, WA iTrader: (0)	No, I bought my M4 used with 40k miles. Should I even bother with extended warranty? Or these M4s rarely break down? For me it's just a daily driver in a 100% stock form, no mods.
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08-02-2019, 02:23 PM	#4
White340 Lieutenant Colonel 1392 Rep 1,985 Posts Drives: 2018 M3 Comp / 2022 X5 45e Join Date: Dec 2015 Location: NYC iTrader: (3)	Well things do break so you have to do your research to find common oproblems and see if you are concerned about them. You'll have people that go 100k without problems and others that have a few hiccups along the way. Anyway it sounds like the warranty company you bought yours from is shady. Look for others and see if you can find a suitable replacement if you want to have the piece of mind of an extended warranty __________________ 2022 X5 45e : AW/Tartufo 2018 M3 Competition : AW/SO 2016 340i xDrive : AW/CR (sold)
	Appreciate 0 Quote

08-02-2019, 04:25 PM	#5
yasavguy Private First Class 40 Rep 111 Posts Drives: '17 BMW X5M Join Date: Jun 2019 Location: Bellevue, WA iTrader: (0)	Has anyone had any experience with EFG/MAP? I'd like to hear from somebody before I pull the trigger and cancel the thing.
	Appreciate 0 Quote

08-02-2019, 06:23 PM	#6
BluM4 Private 60 Rep 83 Posts Drives: Blue M4 Join Date: May 2018 Location: Nor Cal iTrader: (0)	Never heard of EFG/MAP but I just bought the extended warranty from EasyCare. Read a lot of good reviews from the P-car forum.
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08-21-2019, 11:14 PM	#8
NickyC Lieutenant General 17442 Rep 10,646 Posts Drives: M4 CS. Former G82, x2 F82, F80 Join Date: Nov 2010 Location: Jacked out of my mind iTrader: (23)	I don't know OP, this is the very warranty I purchased for my M4 back in February. I got their top of the line plan through February 2023 for about $4k. I'm very good friends with a number of people at my local BMW dealer, and ALL of them told me to go with these guys even over the extended warranty BMW offers. I was all ready to plop down $7k for the BMW warranty for only 3 three years, and they emphatically told me not to do it. Said they've sold their plans (EFG) for years, and have never had a single claim denied by the company. Everything from transmissions, to engines, to simple gaskets have been covered apparently. The cool thing was too, by buying the warranty at the dealer I frequent they waive the deductible for each repair. Now, with that being said, it's possible I could have been absolutely taken to the cleaners and been made a sucker. I haven't had a claim to file yet, so we'll see what happens if something does eventually go wrong with the car. Honestly though, I'd be shocked if the guys at the dealership fed me some bullshit. I've literally know them for a couple decades now, so if I can't imagine they'd throw that type of patronage out the window for a couple hundred bucks (likely their take by selling the policy). I wouldn't worry about it, everything you read on the internet is the worst case scenario. Keep in mind a lot of these people complaining might be competitors, or your typical automotive moron who does zero maintenance. They might also expect the policy to cover batteries or brake rotors/etc., and get enraged because they didn't read what the policy won't cover.
	Appreciate 0 Quote

08-21-2019, 11:52 PM	#9
G35POPPEDMYCHERRY Banned 4995 Rep 4,139 Posts Drives: F80 Join Date: Dec 2015 Location: Philadelphia iTrader: (1)	its def cheaper to self insure this platform.
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